Bank Merger Act of 1960
E14962
The Bank Merger Act of 1960 is a U.S. federal law that established regulatory oversight and antitrust review of bank mergers to prevent undue concentration and protect competition in the banking industry.
Statements (41)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal statute
ⓘ
banking regulation ⓘ |
| aimsTo |
balance competition concerns with banking safety and soundness
ⓘ
prevent monopolies in local banking markets ⓘ prevent substantial lessening of competition in banking ⓘ |
| appliesTo |
bank holding company transactions involving bank mergers
ⓘ
insured banks ⓘ |
| appliesToJurisdiction |
United States of America
ⓘ
surface form:
United States
|
| areaOfLaw |
antitrust law
ⓘ
banking law ⓘ |
| concerns |
concentration of banking resources
ⓘ
preservation of competition in financial services ⓘ |
| coordinatedWith |
United States Department of Justice
ⓘ
surface form:
United States Department of Justice Antitrust Division
|
| country |
United States of America
ⓘ
surface form:
United States
|
| enforcedBy |
Federal Reserve Board of Governors
ⓘ
surface form:
Board of Governors of the Federal Reserve System
Federal Deposit Insurance Corporation ⓘ Office of the Comptroller of the Currency ⓘ |
| focusesOn |
competitive effects of bank consolidation
ⓘ
structure of banking markets ⓘ |
| hasEffect |
increasing federal oversight of bank consolidation
ⓘ
linking bank regulatory review with antitrust enforcement ⓘ subjecting bank mergers to antitrust standards ⓘ |
| legalForm | public law ⓘ |
| legislativeBody | United States Congress ⓘ |
| policyObjective |
coordinate bank supervision with antitrust policy
ⓘ
maintain competitive banking markets ⓘ protect consumers and communities from anticompetitive bank mergers ⓘ |
| purpose |
to establish federal regulatory oversight of bank mergers
ⓘ
to prevent undue concentration of banking resources ⓘ to protect competition in the banking industry ⓘ to regulate bank mergers ⓘ to require antitrust review of bank mergers ⓘ |
| regulates |
acquisitions of bank assets
ⓘ
bank mergers ⓘ consolidations of insured banks ⓘ |
| regulatoryFramework | federal bank supervisory system ⓘ |
| requires |
consideration of competitive factors in bank merger approvals
ⓘ
consultation with the Attorney General on competitive factors ⓘ review of the effects of a merger on competition ⓘ |
| sector | banking industry ⓘ |
| subjectOf | antitrust review of proposed bank mergers ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.